URGING THE DEPARTMENT OF HAWAIIAN HOME LANDS TO REPEAL, REVOKE, OR BUY OUT THE REMAINDER OF THE LEASE OF THE PRINCE KUHIO PLAZA AND RESELL THAT LEASE AT FAIR MARKET VALUE TO A NEW ENTITY THAT AGREES TO PROPERLY MAINTAIN THE PROPERTY.

This Senate Resolution (SR 196) urges the Department of Hawaiian Home Lands (DHHL) to take action regarding the Prince Kuhio Plaza in Hilo. It specifically asks DHHL to repeal, revoke, or buy out the remaining lease from current lessee Ho Retail Properties I, Ltd. due to their failure to maintain the property, which has caused deterioration, store vacancies, and economic harm. The resolution proposes reselling the lease at fair market value to a new entity committed to proper maintenance, aiming to restore the plaza as a thriving commercial hub. This is a non-binding resolution directing DHHL to address the lease situation, not a law changing policy.